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Has Atkore (ATKR) Outpaced Other Industrial Products Stocks This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Atkore Inc. (ATKR - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Atkore Inc. is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATKR has returned 27.1% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 3.7% on average. This means that Atkore Inc. is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Caterpillar (CAT - Free Report) . The stock has returned 12.3% year-to-date.
The consensus estimate for Caterpillar's current year EPS has increased 11.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atkore Inc. belongs to the Wire and Cable Products industry, a group that includes 3 individual stocks and currently sits at #47 in the Zacks Industry Rank. This group has gained an average of 19.6% so far this year, so ATKR is performing better in this area.
In contrast, Caterpillar falls under the Manufacturing - Construction and Mining industry. Currently, this industry has 7 stocks and is ranked #12. Since the beginning of the year, the industry has moved +13.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Atkore Inc. and Caterpillar as they attempt to continue their solid performance.
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Has Atkore (ATKR) Outpaced Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Atkore Inc. (ATKR - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Atkore Inc. is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATKR has returned 27.1% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 3.7% on average. This means that Atkore Inc. is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Caterpillar (CAT - Free Report) . The stock has returned 12.3% year-to-date.
The consensus estimate for Caterpillar's current year EPS has increased 11.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atkore Inc. belongs to the Wire and Cable Products industry, a group that includes 3 individual stocks and currently sits at #47 in the Zacks Industry Rank. This group has gained an average of 19.6% so far this year, so ATKR is performing better in this area.
In contrast, Caterpillar falls under the Manufacturing - Construction and Mining industry. Currently, this industry has 7 stocks and is ranked #12. Since the beginning of the year, the industry has moved +13.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Atkore Inc. and Caterpillar as they attempt to continue their solid performance.